SiriusXM Reports Q4 Record Revs of $1.4 Billion

RADIO ONLINE | Wednesday, January 31, 2018

SiriusXM

SiriusXM reported fourth quarter 2017 record revenue of $1.4 billion, up 8% over 2016. Adjusted EBITDA grew 14% to $542 million, while free cash flow and operating cash flow increased 7% and 8%, respectively, to $460 million and $542 million. The company posted a net loss of $37 million (1 cent per diluted share), as compared to $205 million (4 cents) in the year-ago period. Q4 net income results reflect a $185 million, or 4 cent per diluted share, charge associated with the revaluation of the company's deferred tax assets as a result of the Tax Cuts and Jobs Act.

"The fourth quarter capped a strong year for SiriusXM and was our best quarter for self-pay subscriber growth in five years. We exceeded all of our 2017 subscriber and financial guidance, even after increasing these targets during the year. I am particularly pleased that we achieved this growth in an environment of slowing auto sales. Earlier this month, we outlined our goals to grow subscribers, revenue and adjusted EBITDA in 2018, and at the Detroit Auto Show, we unveiled with Fiat Chrysler the new Ram 1500, which will soon be available to consumers with our new 360L interface," commented SiriusXM CEO Jim Meyer.